National Presto profits up

Send this to a friend

Thank you for sharing. Your email has been sent.

Email address of friend (insert comma between multiple addresses):

Your email address:

Copy Me

Add a brief note:

National Presto Industries Inc. reported net income for the first quarter of $1.3 million, or 19 cents per share, a decline of 14.6 percent compared with $1.5 million, or 22 cents per share, in the same period last year.

Net sales for the Eau Claire-based manufacturer of household appliances, absorbent products and defense products increased to $35.4 million from $25.9 million.

National Presto's president Maryjo Cohen said sales grew in all three business segments, with defense segment sales providing the largest driver of sales growth.

The company's absorbent products division reported a loss in operating earnings for the quarter due to expected inefficiencies in starting up new absorbent product equipment. Excluding one-time items, earnings remained essentially flat for the quarter, said Cohen.

National Presto (NYSE: NPK) manufactures and sells small household electric appliances and pressure cookers under the PRESTO brand name. It also produces absorbent products and defense items.

Industries:

Comments

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.